The United States Government sends out thousands of retirement checks to United States citizens every month through the Social Security Administration. These checks can be as large as $4,873, although having such a high retirement amount is not affordable for everyone.
If we want to get the biggest Social Security Administration check of all we need to maximize our monthly benefit. If we do, we can get a payment if not $4,873 a month something similar. Mind you, in the case of having already applied for retirement check it is not possible to increase the money we get each month.
Get the maximum payment from Social Security
The formula for getting the maximum check each month from the Social Security Administration is based on three fundamental pillars. The first is the retirement age, the second is the years worked and the third is the salary during those years. If we maximize all these aspects we will be able to get a good monthly retirement check.
To do this, we must take into account each and every one of the three elements. If we leave out one of them we can lose a big part of our benefit. Knowing this, we must keep in mind that:
- We must apply for the Social Security Administration benefit as close to age 70 as possible.
- We must work 35 years before applying for retirement.
- We must have gotten a high salary during the years worked.
If we are not close to these parameters, the payment from the Social Security Administration will never be close to the maximum $4,873. So aim for high numbers before you have retirement activated, as this will make for better golden years in the end.
Other Social Security Payments
In case we have already applied for the Social Security Administration payment we cannot increase up to the maximum benefit. But if our retirement payment is not too large, we can try to apply for a Supplemental Security Income check.
This monthly payment assures us a check that can be up to $943. But it is true that this high payment is not for All United States citizens, but for the most needy citizens. Be that as it may, if we can apply for it, we should do so in order to obtain a very interesting extra payment every month.
If we are thinking of applying for the Supplemental Security Income we must think that there are two requirements to fulfill. On the one hand, it is necessary to be 65 years of age or older or have a disability. On the other hand, it is also necessary to have a low monthly income.
Although it is true that the Supplemental Security Income benefit is compatible with the monthly check from the Social Security Administration, the truth is that it is not mandatory to be retired in order to claim this monthly check. It is sufficient to meet the two aforementioned requirements.